Should you Test a Betfair Trading Strategy Before Investing?
Should you Test a Betfair Trading Strategy Before Investment?
The number one most common mistake traders make is that they do not test a strategy first before putting money on it. https://betfairtradingcommunity.com/en/
I will give you some perspective on this, just answer these questions for yourself:
Would you marry someone before dating them?
Would you run a marathon with no recent running practice?
Would you invest in the stock-market with zero information on the investment you are making?
The answer to all of these questions should be a resounding ‘NO’!
However, trading a strategy before testing it first is very similar to the three examples above.
So I asked a few traders who have made this mistake, why do it?
Here were some of the most common answers:
‘I was just in a rush to make money, I don’t have time to test anything.’
‘Well, another trader had done well with the strategy, so I thought I didn’t need to test it myself.’
‘I just didn’t really think about it and used large stakes straight away.’
Some people don’t like to hear it but if you really want to be successful and profitable trader, then you simply must test all of your trading strategies first.
I use 3-6 months as a testing period, ideally with a few hundred results to analyse one testing is complete.
Make this a part of your trading discipline and routine and I don’t think you will regret it.
Hope this has helped, as ever if you need any advice or have any questions just email me: firstname.lastname@example.org